EQT closes above its opening price after recovering from early selling pressure
EQT Corporation (EQT) Technical Analysis Report for May 17, 2018
Moving higher for the 4th day in a row, EQT ended Thursday at 53.94 gaining $0.39 (0.73%). Today's closing price of 53.94 marks the highest close since January 31st. Trading up to $0.84 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Wednesday's high at 53.79, the stock confirms its breakout through the previous session's high having traded $0.38 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Thursday's trading range was $1.31 (2.44%), that's below last trading month's daily average range of $1.79. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.
While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being neutral.